[Federal Register Volume 73, Number 146 (Tuesday, July 29, 2008)]
[Notices]
[Pages 43934-43935]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-17256]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Proposed Collection 
Renewals (0022; 0027; 0029; 0061; 0113); Comment Request

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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SUMMARY: The FDIC, as part of its continuing effort to reduce paperwork 
and respondent burden, invites the general public and other Federal 
agencies to take this opportunity to comment on proposed and/or 
continuing information collections, as required by the Paperwork 
Reduction Act of 1995 (44 U.S.C. chapter 35). Currently, the FDIC is 
soliciting comments concerning the following collections of information 
titled: (1) Uniform Application/Uniform Termination for Municipal 
Securities Principal or Representative; (2) Request for Deregistration 
for Registered Transfer Agents; (3) Notification of Performance of Bank 
Services; (4) Summary of Deposits; and (5) External Audits.

DATES: Comments must be submitted on or before September 29, 2008.

[[Page 43935]]


ADDRESSES: Interested parties are invited to submit written comments to 
Herbert J. Messite, Counsel, 202-898-6834, Legal Division, Federal 
Deposit Insurance Corporation, 550 17th Street, NW., Washington, DC 
20429. All comments should refer to (1) Uniform Application/Uniform 
Termination for Municipal Securities Principal or Representative; (2) 
Request for Deregistration for Registered Transfer Agents; (3) 
Notification of Performance of Bank Services; (4) Summary of Deposits 
or (5) External Audits. Comments may be hand-delivered to the guard 
station at the rear of the 550 17th Street Building (located on F 
Street), on business days between 7 a.m. and 5 p.m. [FAX number 202-
898-3838; e-mail address: [email protected]]. Comments may be inspected 
and photocopied in the FDIC Public Information Center, 801 17th Street, 
NW., Room 100, Washington, DC, between 9 a.m. and 4:30 p.m. on business 
days.
    A copy of the comments may also be submitted to the OMB desk 
officer for the FDIC, Office of Information and Regulatory Affairs, 
Office of Management and Budget, New Executive Office Building, Room 
3208, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: Herbert J. Messite, at the address 
identified above.

SUPPLEMENTARY INFORMATION:

Proposal To Renew the Following Currently Approved Collections of 
Information

    1. Title: Uniform Application/Uniform Termination for Municipal 
Securities Principal or Representative.
    OMB Number: 3064-0022.
    Form Number: MSD-4; MSD-5
    Frequency of Response: On occasion.
    Affected Public: Business or other financial institutions.
    Estimated Number of Respondents: 75.
    Estimated Time per Response: 1 hour.
    Total Annual Burden: 75 hours.
    General Description of Collection: An insured state nonmember bank 
which serves as a municipal securities dealer must file Form MSD-4 or 
MSD-5, as applicable, to permit an employee to become associated or to 
terminate the association with the municipal securities dealer. FDIC 
uses the form to ensure compliance with the professional requirements 
for municipal securities dealers in accordance with the rules of the 
Municipal Securities Rulemaking Board.

    2. Title: Request for Deregistration for Registered Transfer 
Agents.
    OMB Number: 3064-0027.
    Frequency of Response: On occasion.
    Affected Public: Business or other financial institutions.
    Estimated Number of Respondents: 15.
    Estimated Time per Response: .42 hours.
    Total Annual Burden: 6.3 hours.
    General Description of Collection: An insured nonmember bank or a 
subsidiary of such a bank that functions as a transfer agent may 
withdraw from registration as a transfer agent by filing a written 
notice of withdrawal with the FDIC as provided by 12 CFR 341.5.

    3. Title: Notification of Performance of Bank Services
    OMB Number: 3064-0029.
    Form Number: FDIC 6120/06.
    Frequency of Response: On occasion.
    Affected Public: Business or other financial institutions.
    Estimated Number of Respondents: 412.
    Estimated Time per Response: 1/2 hour.
    Total Annual Burden: 206 hours.
    General Description of Collection: Insured state nonmember banks 
are required to notify the FDIC, under section 7 of the Bank Service 
Corporation Act (12 U.S.C. 1867), of the relationship with a bank 
service corporation. Form FDIC 6120/06 (Notification of Performance of 
Bank Services) may be used by banks to satisfy the notification 
requirement.

    4. Title: Summary of Deposits.
    OMB Number: 3064-0061.
    Form Number: 8020/05 (7-95).
    Frequency of Response: Annually.
    Affected Public: All insured financial institutions.
    Estimated Number of Respondents: 6,000.
    Average Estimated Time per Response: 3 hours.
    Total Annual Burden: 18,000 hours.
    General Description of Collection: The Summary of Deposits annual 
survey obtains data about the amount of deposits held at each office of 
all insured banks with branches in the United States. The survey data 
provides a basis for measuring the competitive impact of bank mergers 
and has additional use in banking research.

    5. Title: External Audits.
    OMB Number: 3064-0113.
    Frequency of Response: annually.
    Affected Public: All insured financial institutions with total 
assets of $500 Million or more, and other insured financial 
institutions with total assets of less than $500 Million that 
voluntarily choose to comply.
    Estimated Number of Respondents: 5,243.
    Average Estimated Time per Response: (a) Financial institutions 
with assets of $1 Billion or more: 69.63 hours; (b) financial 
institutions with assets of $500 Million, but less than $1 Billion: 
8.42 hours; (c) financial institutions with total assets less than $500 
Million: 30 minutes.
    Total Annual Burden: 65,612 hours.
    General Description of Collection: FDIC's regulations at 12 CFR 363 
establish annual independent audit and reporting requirements for 
financial institutions with total assets of $500 Million or more. The 
requirements include the submission of an annual report on their 
financial statements, recordkeeping about management deliberations 
regarding external auditing and reports about changes in auditors. The 
information collected is used to facilitate early identification of 
problems in financial management at financial institutions.

Request for Comment

    Comments are invited on: (a) Whether the collection of information 
is necessary for the proper performance of the FDIC's functions, 
including whether the information has practical utility; (b) the 
accuracy of the estimates of the burden of the information collection, 
including the validity of the methodology and assumptions used; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; and (d) ways to minimize the burden of the information 
collection on respondents, including through the use of automated 
collection techniques or other forms of information technology.
    At the end of the comment period, the comments and recommendations 
received will be analyzed to determine the extent to which the 
collection should be modified prior to submission to OMB for review and 
approval. Comments submitted in response to this notice also will be 
summarized or included in the FDIC's requests to OMB for renewal of 
these collections. All comments will become a matter of public record.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
 [FR Doc. E8-17256 Filed 7-28-08; 8:45 am]
BILLING CODE 6714-01-P